Will Bury

The flowing economic conditions has been challenging for many small businesses. It appears that the current conditions will continue for a long run on the downward slope before seeing recovery consistency. stay competitive and generating increasing amplifications are critical variables of a successful business. The business Mr. Will engulf has created can frame iconic and since he holds the patent to his design, his company is considered to be a monopoly. In this paper I will discuss recommendations for Mr. get downs regarding increasing revenue, achieving ideal production levels, determine how obdurate and variable costs should be adjusted to maximize profit and identify methods to reduce cost. Increasing Revenue Mr. Bury is impairment sore in a way he recognizes that his digital engineering science must be competitive with those of similar business such(prenominal) as books on CDs. Pricing is an important share in the planning of increasing revenue. How can Mr. Bury digital technology increase revenue in an economy of advance inflation and significant high unemployment? Currently, this is the condition of the US. Although we are glide path some levels of recovery, no one can clearly subject when it will happen. Mr. Bury will catch to evaluate price elasticity of demand to determine the following: 1.

If PEoD > 1 thus Demand is Price Elastic (Demand is nociceptive to price changes) 2. If PEoD = 1 then Demand is Unit Elastic or 3. If PEoD < 1 then Demand is Price Inelastic (Demand is not highly sensitive to price changes). Examining price elasticity will help Mr. Bury determine if the price of his good is sensitive or non sensitive to price changes. Another factor Mr. Bury will have to consider is his opportunity cost. He will have to hold the $200,000 income plus benefits he receives at High Tech digital Industries as well as the time he spends transforming books to the digital files. Perhaps some of these barriers can be resolved by hiring family members to assist with some of the labor.... If you want to get a near essay, order it on our website: Orderessay

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